$BTC Senate Cuts Trump-Backed Clauses from GENIUS Act—Crypto's Fate Hinges on This Key Vote Date!

🚨 GENIUS Act Blocked by U.S. Senate—Revised Crypto Bill Vote Set for May 26

The cryptocurrency-friendly “GENIUS Act”, a long-anticipated stablecoin regulation bill in the United States, was rejected by the U.S. Senate in early May, triggering backlash from industry leaders and crypto advocates.

Despite the initial setback, momentum is building for a second vote. Lawmakers suggest the Senate could reconsider the bill before May 26, aiming to push forward a revised version stripped of politically charged content.

🔍 What Changed in the Revised Bill?

At the Stand With Crypto event, Senator Kirsten Gillibrand confirmed that the updated bill removes controversial provisions targeting former President Donald Trump and his family’s ties to the crypto industry—including mentions of memecoins, stablecoin platforms, and mining companies linked to Trump-affiliated ventures.

“The revised bill shows real progress on issues like consumer protection, bankruptcy safeguards, and government ethics,” said Gillibrand.

Senator Cynthia Lummis, a Republican and vocal Bitcoin advocate, expressed optimism, calling May 26—a key U.S. holiday, Memorial Day—“a fair goal” for passage of the revamped GENIUS Act.

🔥 Gillibrand Slams Trump’s Crypto Activities

In a bold statement, Senator Gillibrand accused Trump of engaging in potentially illegal crypto activities, particularly the alleged issuance of memecoins:

“Most of what President Trump is doing is already illegal. Launching a memecoin is essentially offering money for proximity to power—one of the most unethical and illegal things possible under current law.”

While the revised GENIUS Act doesn't address Trump’s ethical conduct, Gillibrand emphasized that the bill’s primary goal is to bring clarity and structure to the stablecoin ecosystem—not to settle political scores.

📌 This is not investment advice.